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Citizenship

pdf Download Citizenship by Investment brochure

 

Citizenship Planning Information

The Citizenship-by-Investment Program of St Kitts and Nevis was initiated in 1984, making it one of the longest running programs of this kind in the world. Several countries have adopted programs which allow the acquisition of citizenship on the basis of an investment and/or a direct contribution to the state as a means of development of the country but the Federation has an established track record of allowing individuals to acquire alternative citizenship and to legally obtain a second passport.

 

What is the Citizenship by Investment Program?

St. Kitts is one of the countries of the Eastern Caribbean where there is a well-functioning government sponsored citizenship by investment program, allowing foreign nationals a fast track to full citizenship through investment in approved projects on the island. Under this program, persons making a minimum investment of USD $400,000 in an approved project are eligible to apply for citizenship in the Federation. Properties purchased through the program can be sold and used for subsequent applications after 5 years.

Silver Reef St. Kitts is one of these approved projects which allow purchasers the option of seeking citizenship in St. Kitts and Nevis. Applicants are required to retain the services of a lawyer based in St. Kitts to prepare their application. The review process normally takes between 4 to 6 weeks, but applicants are not required to personally attend any interviews in St.Kitts.

Government fees are $50,000.00 for the main applicant, and $25,000.00 for spouse and minor dependents, and $50,000.00 for dependents over 18 years. The due diligence fee is $7,500.00.

 

For more info click here

 

Citizenship by Investment

To qualify for citizenship, the government requires applicants to make an investment in designated, officially approved, real estate with a value of at least US$ 400,000 plus the payment of government fees and other fees and taxes. For more info click here

 

Background and Legal Considerations

The regulations regarding citizenship-by-investment in St. Kitts & Nevis are contained in the Saint Christopher and Nevis Citizenship By Investment Regulations made by the Minister under section 15 of the Citizenship Act, Cap 1.01 (published 15th September 2011 - Official Gazette number 48 of 2011). These provisions allow the government to operate a program under which citizenship is granted to persons who qualify under criteria set by cabinet Requirements and Procedures.

 

Requirements and Procedures

Besides this investment requirement, the following processing and due diligence fees are payable to the Government of St. Kitts and Nevis:

  • US$ 50,000 for the main applicant
  • US$ 25,000 for the spouse
  • US$ 25,000 for any dependent children below the age of 18
  • US$ 50,000 for any dependent and unmarried children older than 18 but younger than 25.
  • Children over 18 years but below 25 must be in a full time learning institution and fully supported by parents.
  • US$ 7,500 due diligence fee per person older than 16 included in the application
  • US$ 5,000 application fee payable before an application can be made

Additionally to these fees, real-estate buyers should be aware that there are also purchase costs (mainly compulsory insurance fund contribution and conveyance fees) of approximately 4 – 5% of the purchase price. Only villas and condominium units from an approved developer such as Silver Reef will qualify for citizenship. The real estate cannot be re-sold until 5 years after the purchase, but after that will qualify the next buyer for citizenship. 

The appropriate registration and background check fees must be paid to Government at the time of making the application. Funds to pay for the required investment must be paid to an Escrow Agent by the applicant. These funds will be held in an Escrow Account with a bank in St. Kitts. These funds will only be released by the Escrow Agent to pay for the required investment if the application is accepted by Government.

If the application is not accepted, the registration fees paid to Government and the funds for the payment of the required investment will be returned to the unsuccessful applicant. Please note that fees paid to Government for background checks are not refunded.

 

Forms & Document Requirements

 

Every citizenship application must be made on the prescribed form which must be submitted together with various documents relating to the applicant's identity, civil status, criminal record, financial resources, and health. All documents must be in English or translated into English, and all photocopies of any document submitted must be notarised and properly certified.

The following forms and documents are required from each applicant, including children:

  • Photograph and Signature Certificate (Form C2).
  • Medical Certificate (Form C3) including original results of an HIV test (an HIV test is required for all persons applying for citizenship, including children). The HIV test results must be not older than 3 months.
  • Certified copy of your current passport(s) showing name, photo, citizenship/nationality, date and place of issue, expiry date, and passport number and issuing country.
  • Certified copy of your current national identity card(s).
  • Six original passport-size photos of yourself taken within the past 6 months.
  • Original excerpt of full birth record or certified copy of full birth certificate (i.e. a birth document that also includes your parent’s details, or a household register, family book etc.).
  • Original police certificate(s) from country of citizenship (unless you can provide satisfactory evidence that you have never lived there) and from any country where you have lived more than 1 year over the past 10 years. Police certificates must be less than six months old at the time you lodge your application.

The following forms and documents are required only once from the main applicant:

  • Investment Confirmation / Escrow Agreement (Form C4-S or C4-R) and confirmation of funds having been wired to an escrow account. Also, in the case of Form C4-R, a copy of the executed real-estate contract.
  • One original bank reference letter issued by an internationally recognized bank, not older than 6 months.
  • One original professional reference (e.g. from an attorney, notary public, chartered accountant or other professional of similar standing), not older than 6 months.

 

The following documents are required only if applicable, i.e. if married persons apply together:

  • Original excerpt of marriage record or certified copy of marriage certificate(s) (if applicable).
  • Certified copy of divorce document(s) (if applicable).

Dual Citizenship

Citizens of St. Kitts & Nevis are allowed to hold dual citizenship, and the acquisition of citizenship is not reported to other countries. As citizens of St. Kitts & Nevis, your passports will allow visa-free travel to more than 60 countries worldwide.

You have the right to take up residence in St. Kitts & Nevis at any time and for any length of time. You are not liable for taxation, even if you decide to reside in St. Kitts & Nevis, as there are no direct taxes.

As a Commonwealth Citizen, you receive certain preferential treatment in the United Kingdom. For example, your children may enter the United Kingdom to study without first having to apply for student visas. After studying, they may work in the United Kingdom for two years without needing a work permit.

St. Kitts and Nevis passport holders will no longer need visas to travel to Austria, Belgium, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Slovakia, Slovenia, Spain, Sweden and the UK.

 

Other Background Information for Investors

There is no personal income tax, net worth tax, gift tax, or estate duty but persons who are resident in St. Kitts and who remit payments to non-resident persons must withhold 10% from rent, profits and other types of payments.

Investors purchasing a Silver Reef property will be exempt from paying the normal Alien Land Holding License of the purchase price applicable to non-residents.

Strong off-shore banking and financial services infrastructure ensures investments are managed discretely and professionally.

A very strong rental market guarantees rental income. Three universities insulate the market and keep demand high in all sectors. Plus St Kitts’ visitor numbers are predicted to rise year on year as the government’s significant investment in the tourism infrastructure takes hold. Investor’s choosing to enter their units into the rental pool can expect an average yield of 8% per annum at current prices.

 

We are not able to act as advisors in the proper procedures with regards to application and any information supplied here is for information purposes only. We do not take responsibility for any errors or omissions as information is for a guideline only and is subject to change at any time.

Please contact Joy Wilson, Sales and Marketing Assistant, Silver Reef St Kitts  Этот e-mail адрес защищен от спам-ботов, для его просмотра у Вас должен быть включен Javascript

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